1Z0-516 testing software(141 to 150) for customers: Jul 2021 Edition

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2021 Jul 1Z0-516 exam topics

Q141. The following template has been created: 


Here, D represents the company segment; the value set is called company. 

Region represents the division segment; the value set is called division. 

Asset represents the natural account segment; the value set is called account. 

You receive this error: 

APP-08820: The rollup group 'Asset' is not defined in the value set: <'Account'>. 

What is the problem? 

A. The natural account segment can have only a T designation. 

B. The asset rollup group has not been assigned to a parent value. 

C. The asset rollup group has been assigned to a parent with no child values. 

D. The asset rollup group should have been aligned with the division segment. 

Answer: B

Q142. Oracle Workflow Architecture includes Workflow Engine, Workflow Builder, and Directory Service. Identify three true statements. (Choose three.) 

A. Directory Service contains users and roles. 

B. Workflow Engine resides in Oracle database. 

C. Directory service contains agents and services. 

D. Workflow Builder resides in development client. 

E. Workflow Engine resides in Oracle Application Server. 

F. Workflow Builder saves workflow process definitions in a graphical format. 

Answer: ABD

Q143. The GL accountant has defined the budget and wants the assistant accountants to enter and update the budget. The GL accountant wants this budget to be the default. What would be your response? 

A. If the client wants to do this, the budget status must be open. 

B. If the client wants to do this, the budget status must be current. 

C. The Oracle General Ledger budget functionality cannot satisfy this requirement. 

D. If the client wants to do this, customization of Oracle Workflow is the only option. 

Answer: B

Q144. Select two valid statements that apply to chart of accounts structures for a global company. (Choose two.) 

A. A segment of different chart of accounts structures can share the same value set. 

B. A global chart of accounts is possible only if all sets of books for companies worldwide use the same chart of accounts structure. 

C. If the same value set is used for two or more chart of accounts structures, the same security rules for that segment cannot be assigned to multiple structures. 

D. It is possible to have multiple companies in the same set of books provided that they share the same chart of accounts structure, accounting calendar, and reporting currency. 

Answer: AB

Q145. Identify two features of a table-validated Value Set. (Choose two.) 

A. A table-validated Value Set has no list of approved values associated with it. 

B. Table-validated Value Sets obtain their lists of approved values from existing application tables. 

C. The values in a table-validated Value Set are stored in Oracle Application Object Library's tables. 

D. In a table-validated Value Set, you need to enter each value manually using the Segment values window. 

E. A table-validated Value Set enables you to use your own application tables as Value Sets for Flexfield Segments. 

Answer: BE

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Q146. Tax on Receivables invoices are posted to different General Ledger (GL) accounts by taxing authorities in your primary ledger. For example, one GL account (2501) for California tax and one (2502) for VirginiA. There is a regulatory requirement for tax on Receivables invoices to be posted to one account (2550) in your secondary ledger. Where would you set up the accounting rules for this requirement? 

A. Oracle Payables 

B. Oracle Receivables 

C. Oracle General Ledger 

D. Oracle E-Business Tax 

E. Oracle Subledger Accounting 

Answer: E

Q147. After creating two new customers, LeftBank and RightSide, you create and complete an invoice for $105 ($100 plus $5 tax) for LeftBank. You immediately realize that you should have created the invoice for RightSide. Which three steps can you take to correct the situation? (Choose three.) 

A. Change the status of the invoice to incomplete. Delete the invoice, and then enter and complete the invoice for RightSide. 

B. Change the status of the invoice to incomplete. Change the customer in the invoice to RightSide. Complete the invoice. 

C. Create an adjustment to the invoice for the entire amount, and then create a negative adjustment to the account of RightSide. 

D. Create an on-account credit memo for $105 for LeftBank. Apply the on-account credit memo to the invoice. Enter and complete the invoice for RightSide. 

E. Change the status of the invoice to incomplete. Change the transaction type of the invoice to a transaction type that has creation sign equal to negative sign. Complete the invoice. Enter and complete the invoice for RightSide. 

Answer: ABD

Q148. You created an invoice with one line item of $100 and a tax of $10. This line item is credited with an applied credit memo of $50. What is the credit to the tax line? 

A. $5 

B. $1 

C. $10 

D. $20 

Answer: A

Q149. ABC.com has many Financial Statement Generator reports created to produce Profit & Loss statements and Balance Sheet reports. Occasionally ABC.com has a need to run a report that is slightly different than the standard ones that are already created. Which two types of changes could XYZ make using the Row Order feature? (Choose two.) 

A. display segment values and descriptions 

B. add a new calculation 

C. change how rounding options are performed 

D. sort based on column values 

Answer: AD

Q150. Identify the profile option that is required to enable Multi-Org Access Control for multiple Operating Units. 

A. HR: User Type 

B. MO: Operating Unit 

C. MO: Security Profile 

D. HR: Business Group 

E. MO: Default Operating Unit 

Answer: C

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